What’s one way the Kentucky Real Estate Education Research and Recovery Fund protects the public?

Which of the following is a purpose of the Kentucky real estate Education Research and Recovery Fund?

The real estate education, research and recovery fund has several purposes, including: Paying outstanding court orders against licensees who have caused financial harm upon citizens through improper, fraudulent or dishonest conduct. Investment. Advancing education and research in the field of real estate.

What is the main purpose of the Kentucky Real Estate Commission?

KENTUCKY REAL ESTATE COMMISSION. The Kentucky Real Estate Commission protects the public interest through regulation, examination, and licensing of Kentucky real estate sales associates and brokers pursuant to Kentucky Revised Statutes, Chapter 324.

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Which of the following is one of the purposes of the real recovery fund quizlet?

What is one purpose of the Indiana Real Estate Recovery Fund? To cover claims against real estate practitioners for embezzlement of money that results in a cash loss to someone.

Which of the following is the Kentucky Real Estate Commission empowered to do?

Which of the following is the Kentucky Real Estate Commission empowered to do? Investigate complaints against licensees and irregularities of the law.

How can a licensee prevent a payment against him or her from the recovery fund once an order has been issued against him or her?

How can a licensee prevent a payment against him or her from the recovery fund once an order has been issued against him or her? Pay the claim within 20 days. How is the real estate education, research and recovery fund funded?

What is the main purpose of the Kentucky Real Estate Commission quizlet?

what is the main purpose of the Kentucky Real Estate Commission? to put into effect and make known the administrative regulations to effectively carry out and enforce the provisions of the Kentucky statutes governing real estate.

What does the Kentucky Real Estate Commission require upon the opening of a new firm?

To attain your real estate license as a new sales associate in Kentucky, the Kentucky Real Estate Commission requires the following must be met: Be at least 18 years old. Have a high school diploma or GED. Complete all Pre-Licensing coursework.

Who selects the Kentucky Real Estate Commission Chairperson?

The chairperson of the Kentucky Real Estate Commission (KREC) is chosen by: fellow commissioners.

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Which of the following is included with real property rights?

The main legal property rights are the right of possession, the right of control, the right of exclusion, the right to derive income, and the right of disposition. There are exceptions to these rights, and property owners have obligations as well as rights.

What is one purpose of the Indiana real estate Recovery Fund?

Managed by the Indiana Real Estate Commission, the Indiana Real Estate Recovery Fund was established to protect consumers and clients from cash losses due to unlawful practices by real estate licensees.

What is considered to be real property?

The term “real estate” or “real property” means the land plus anything growing on it, attached to it or erected on it, including man-made objects, such as buildings, structures, roads, sewers, and fences, but excluding anything that may be removed from the land without injury to the land.

Which of the following benefits does errors and omissions insurance provide Kentucky licensees?

Which of the following benefits does errors and omissions insurance provide Kentucky licensees? Errors and omissions insurance provides coverage for licensees who make inadvertent mistakes. It doesn’t provide coverage for all situations or deliberate mistakes, and it can’t remove all risk from real estate transactions.

How do you become a member of the Kentucky Real Estate Commission?

All applicants must:

  1. Be 18 years of age;
  2. Have attained a high school diploma or GED; (see also: Foreign Transcripts )
  3. Completed all real estate pre-license courses prior to taking the real estate examination;
  4. Complete FBI criminal background check; and.
  5. Must apply within sixty (60) days of passing their exam.
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How do I pass the Kentucky real estate exam?

To pass, you must answer correctly at least 75% of the questions. The broker exam consists of 80 national questions and 50 state-specific questions. To pass, you must answer correctly at least 75% of the questions. You will receive your score immediately after you complete your exam.